Valeant Pharmaceuticals International Inc received a joint takeover offer from Japan's Takeda Pharmaceutical Co Ltd and TPG Capital Management LP this spring that the Canadian specialty drug-maker rejected, a source told Reuters. Takeda and the U.S. private equity firm were ready to offer a substantial premium to Laval, Québec-based Valeant, whose stock had fallen about 65 percent this year up to the close of trade on April 22 as the drug-maker was not just seeking a new head but was also hit by an accounting scandal, the source added.
2 min read · 27 May 2016
Australia's antitrust watchdog on Thursday raised fresh concerns about a planned A$9.1 billion (US$6.5 billion) takeover of rail and port giant Asciano Ltd, potentially forcing the Canadian-led buyout consortium to restructure the deal, Reuters reported. The buyout group, led by Canada's Brookfield Asset Management and including investors from China, the Middle East and Australia, may have to appease the regulator by offering to sell some assets. Brookfield struck a deal in March with Australian stevedoring company Qube Holdings Ltd to acquire Asciano and divide its ports and railways businesses among participating investors.
2 min read · 26 May 2016
Messaging app Snapchat Inc has raised $1.81 billion in an equity offering, indicating strong investor interest in the company despite concerns that it is struggling to attract advertisers, Reuters News reported.
1 min read · 26 May 2016
US Foods Holding Corp (USFD.N), a U.S. private equity-owned food distributor, raised $1.02 billion on Wednesday in this year's second-largest U.S. initial public offering thus far, as new stock market flotations pick up pace, Reuters News reported.
2 min read · 26 May 2016
AT&T Inc (T.N), the No. 2 U.S. wireless carrier, has made a bid for Yahoo Inc's (YHOO.O) internet business, Bloomberg reported on Wednesday, Reuters News reported.
1 min read · 26 May 2016
Acushnet Company, the owner of golf brands including Titleist and Footjoy, is preparing to register with U.S. regulators as early as June for an initial public offering that could value it at more than $2 billion, Reuters News reported.
2 min read · 26 May 2016
Former Canadian Prime Minister Stephen Harper will leave politics later this year, possibly to join U.S. private equity firm Kohlberg Kravis Roberts & Co, Reuters reported, citing various domestic media stories. One source said Harper, who was Canada's prime minister for nearly 10 years, has had offers of work from several U.S. companies, including KKR.
1 min read · 25 May 2016
Monsanto Co, the world's largest seed company, turned down Bayer AG's $62 billion acquisition bid as "incomplete and financially inadequate" on Tuesday, but said it was open to engage further in negotiations, Reuters News reported.
3 min read · 25 May 2016
Billionaire investor Peter Thiel is helping wrestler Hulk Hogan bankroll his lawsuit against Gawker Media, according to a report in Forbes.
2 min read · 25 May 2016
Video conferencing equipment maker Polycom Inc said on Monday it received a revised proposal from a private equity firm that could be "superior" to Mitel Networks Corp's offer, Reuters reported. San Jose, California-based Polycom, which agreed to be bought by Ottawa's Mitel for about US$1.96 billion in April, said it intends to engage in discussions with the private equity firm, identified as Sponsor 1.
2 min read · 24 May 2016
